10:30 AM EDT, 05/10/2024 (MT Newswires) -- Bank of New York Mellon ( BK ) said Friday it partnered with Ponce Financial Group's ( PDLB ) Ponce Bank unit as part of the US Treasury Department's financial agent mentor-protege program.

The collaboration will complement Ponce Bank's investment in local businesses, housing, and services in underserved communities, BNY Mellon added.

Ponce Bank will continue to enhance the local communities growth with BNY's financial services, the company said.

Financial terms of the partnership weren't disclosed.

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